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andrea merkel has to get elected in the second half of next year. that's going to make it difficult for any pro-growth solutions to appear in europe. i think, frankly, i'm not that confident that the market hasn't already positively priced in a fiscal cliff resolution. i think the first half is like a bungee jump. >> so dan, cut through all of that, right. if we could put aside trying to forecast where the s&p is going to be, where the dow is going to be, regardless of where the markets in general are going to be, i believe you have stock picks for us. name what they are and will they be able to perform regardless of the macro environment? >> all right. we are focused on. companies that can grow regardless of what happens in the economy. three stocks we like, one is denbury resources. what's interesting about them is they have hedged their forward sales of oil so the lowest they're going to receive is $80 next year. at those rates, they're going to be a very profitable company. it's a very inexpensive stock. we like that. it's a u.s. oil producer as
andrea merkel has to get elected in the second half of next year. that's going to make it difficult for any pro-growth solutions to appear in europe. i think, frankly, i'm not that confident that the market hasn't already positively priced in a fiscal cliff resolution. i think the first half is like a bungee jump. >> so dan, cut through all of that, right. if we could put aside trying to forecast where the s&p is going to be, where the dow is going to be, regardless of where the...
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Dec 6, 2012
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we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany up 3.9% in october, a phenomenal performance from german industry and it's worth bearing in mind that german industry is basically in a single currency that is too low arguably for what it should be at. the deutsche mark would ha
we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now...
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sandy, the election, holiday workers. you say three asterisks. >> yeah, i think it has to have three asterisks, it doesn't fit in with initial claims and other items. they said sandy had no impact on the number. i think that may be because the number was basically taken before the impact was held. i think they're going to see a lot of revisions here. >> next week setting up. it's going to be another big one. same store sales from various companies and, of course, the fed. >> the fed is important. it's another one of those two-day meetings. they're going to take down operation twist. this will be important because he gets to announce at a press conference. that gives them a chance to explain what the mood of the meeting was. it will give them a chance to hear what the new proposal, qe whatever, is supposed to do and how they want to set it up. so i think the markets will hone in on that very, very carefully. >> do you think we see an acceleration of purchases, a revamp of twists? will there be an event as i said earlier? >
sandy, the election, holiday workers. you say three asterisks. >> yeah, i think it has to have three asterisks, it doesn't fit in with initial claims and other items. they said sandy had no impact on the number. i think that may be because the number was basically taken before the impact was held. i think they're going to see a lot of revisions here. >> next week setting up. it's going to be another big one. same store sales from various companies and, of course, the fed. >>...
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Dec 4, 2012
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i respectfully disagree that the only democrats got elected in the past election. there was still a majority in the house of representatives republican that would return to office they ought not take ownership of something that will reduce jobs and growth. they ought not to do that or they'll be responsible for what happens in the next four years. let the democrats have their tax increases and you'll see what happens. >> as you speak, we have a fiscal cliff countdown clock right beneath you, 27 days and 12 hours. gentlemen, appreciate your time. thanks so much. >> thank you. governors gilmore and davis. >>> let's get to brian sullivan with the market flash. brian? >>> perhaps not happy here, carl, pby is falling today. they swupg to a third quarter loss. you can see the stock is down 13%, $6.8 million loss, basically 13 cents per adjusted share of a loss. wall street was expecting a prof profit. sales fell 2.4% quarter over quarter. of course the whole autoparts phase with a lot of action around this name, pby has been stuck in an $8 to $12 range for the better par
i respectfully disagree that the only democrats got elected in the past election. there was still a majority in the house of representatives republican that would return to office they ought not take ownership of something that will reduce jobs and growth. they ought not to do that or they'll be responsible for what happens in the next four years. let the democrats have their tax increases and you'll see what happens. >> as you speak, we have a fiscal cliff countdown clock right beneath...
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>> well, i think when we get st it is when we make sure that the elected officials know that the people they need are not the big public employee union leaders who constantly try to flex their muscle or the big corporation leaders. it is the people who sent them to represent them. and we get past this when elected officials sit down and start listening to the people who work in schools, the kids come in the other people in their district. they are just not doingthat. as a result, there is no question why we are seeing small business suffer and why we are, again, for the second year in a row, the sme of the country where he should be. >> earlier this week about the california -- real estate seem to be percolating, things were coming together. is that not so? >> it's not so. we represent around 20,000 members of small business here. 350,000 nationwide. across the nation, but the best content especially here in california. no hope or certainty. that optimism continues to plummet. so we are finding the mom-and-pop stores -- especially during the holiday season -- with a lack of will. it's a
>> well, i think when we get st it is when we make sure that the elected officials know that the people they need are not the big public employee union leaders who constantly try to flex their muscle or the big corporation leaders. it is the people who sent them to represent them. and we get past this when elected officials sit down and start listening to the people who work in schools, the kids come in the other people in their district. they are just not doingthat. as a result, there is...
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>> you would have to elect romney to do that. you're not going to extend the bush tax cuts for the high end. >> for another minute. >> not even for a milliseconmil. >> the republicans want to bargain away and let taxes go up by the end of the year and have the big negotiations occur next year when the president will want even more increases in taxes. >> let me ask a different question and it's sort of the -- >> and then we got to go. >> here's the opportunity for the president to eclipse the whole thing, i don't think he's going to but he could eclipse the whole scene. let's not relitigate '01 and '03 let's bridge to tax reform and move forward. the senate democrats not answering their phones are the ones to ask about this one. >> congressman, thank you for being on. >>> the final countdown to the jobs report. stick around. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional valu
>> you would have to elect romney to do that. you're not going to extend the bush tax cuts for the high end. >> for another minute. >> not even for a milliseconmil. >> the republicans want to bargain away and let taxes go up by the end of the year and have the big negotiations occur next year when the president will want even more increases in taxes. >> let me ask a different question and it's sort of the -- >> and then we got to go. >> here's the...
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Dec 3, 2012
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before we got really wrapped up in the election we were wringing our hands on how the earnings season was not coming out very well. i think when we start paying attention to earnings again it will be a problem. >> coming up next is dell really a buy? our traders will make the call on whether this beaten down tech stock is back from the brink. it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my ca
before we got really wrapped up in the election we were wringing our hands on how the earnings season was not coming out very well. i think when we start paying attention to earnings again it will be a problem. >> coming up next is dell really a buy? our traders will make the call on whether this beaten down tech stock is back from the brink. it could be called the ultimate fiscal cliff trade. find out which investment americans are pouring into. much more straight ahead. if you think...
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i'm wondering whether it's democrats or liberals are over reading the election? i think it's safe to say there's a fair organization, -- fair argument, that raising taxes on the rich was a consequence of the election. all the other stuff is a leap. >> there's -- >> as far as what you leverage off. >> winning by a couple points does not turn into a mandate that everybody's behavior in how they consume energy sign up for changing that, increased energy prices, vehicles you can drive, that the behavior changes they need in theory of the causes of things. no one signed up for that because they -- few people signed up for that, a real lifestyle change which would be measurable, financially, and in your behavior, dramatic, very people, i think, vote for that, if that was something ty had to do. i don't think we'll get anything serious like that because there's not a mandate for that. >> i mean, one of the things interesting about the speech, and i realize you were not able to watch , and i undstand why. neil: harvard people listen to that. >> the comments were incendia
i'm wondering whether it's democrats or liberals are over reading the election? i think it's safe to say there's a fair organization, -- fair argument, that raising taxes on the rich was a consequence of the election. all the other stuff is a leap. >> there's -- >> as far as what you leverage off. >> winning by a couple points does not turn into a mandate that everybody's behavior in how they consume energy sign up for changing that, increased energy prices, vehicles you can...
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they have an election every two years and they got elected again and they've got constituents that sent them there for a reason. and then you've got the president would is just -- you know, just being hammered by the left on not caving this time around because he got so much grief the last time. this is setting up for us to go over the cliff, isn't it? what do you think? do we go over it or not? >> yeah, it is very difficult. and i feel bad for john boehner. he's in a difficult situation. i did want to remind john that he should look at the young, newer members that are so difficult to persuade to make an easy deal compromise. and remember, it wasn't too many years ago, john, that was you and me and we were driving bob michael and president bush nuts when the democrats were offering them, give us the tax increases now, we'll give you the spending cuts later and we were saying, oh, no, they'll never keep their word on the spending cuts. they'll tax the tax increases. quite frankly, the speaker has a difficult role to play here. he's seen by so many people as the principal guardian of our
they have an election every two years and they got elected again and they've got constituents that sent them there for a reason. and then you've got the president would is just -- you know, just being hammered by the left on not caving this time around because he got so much grief the last time. this is setting up for us to go over the cliff, isn't it? what do you think? do we go over it or not? >> yeah, it is very difficult. and i feel bad for john boehner. he's in a difficult situation....
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, elections of consequences. remember that famous soundbyte? obama ran on higher taxes for the wealthy and won. lz, shouldn't he be making the same argument? that is what he ran on. >> absolutely. you know what i find interesting, if you look at the statistics, many of the blue states that supported president obama are some of the richest states in the country. and so not only did you have him defeat romney pretty handedly in the electoral college, but people willing to sacrifice their own money to make sure that president obama, his policies made it to the white house. you know, it was the exact opposite in just the republicans. some of the red states were some of the poorest states in the country. so i think it is very interesting that when you see average american citizens who happen to be making a little bit more money willing to sacrifice for the good of the country, i think that's a good message and something to get behind and stand on. >> lz, our producers are here, can we keep them over the break? i want
, elections of consequences. remember that famous soundbyte? obama ran on higher taxes for the wealthy and won. lz, shouldn't he be making the same argument? that is what he ran on. >> absolutely. you know what i find interesting, if you look at the statistics, many of the blue states that supported president obama are some of the richest states in the country. and so not only did you have him defeat romney pretty handedly in the electoral college, but people willing to sacrifice their...
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we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in the defense budget. we're probably going to have a double dip recession, and until the congress then gets its act together to fix it and lower rates on the middle class, you will have the republicans essentially responsible for raising tax rates on the middle class. i can't imagine, again, bill krystal said this yesterday. i can't imagine why the republicans would want to be known as raising tacks xes on t middle class. >> thank you both. next, the president reacts to speaker boehner. stay with us. this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just
we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in the defense budget. we're probably going to have a double dip recession, and until the...
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this was a status quo election. the president had a great re-election and the republicans held the house and democrats the senate. they have to sit down and do negotiate. it's not boehner versus geithner. it's can the house republicans buy a plan that they cancel to their members. and will the senate go along and if so will the president sign it. until you get in a room and discuss the elements you get people talking at each other with some absurdity. we are talking about $85 billion a year in added revenue over a ten-year period. we are spending over a trillion dollars in debt every year and not putting anything into it. the republicans have been down the road before where they have been promised three for one, and it never happens. i think they are beginning to realize until it's actually on the table and signed off on by all sides they aren't going to buy into it. >> senator, did the president in this offer with so little in spending cuts and tax reform, the debt limit, did he overplay his hand or is he being rea
this was a status quo election. the president had a great re-election and the republicans held the house and democrats the senate. they have to sit down and do negotiate. it's not boehner versus geithner. it's can the house republicans buy a plan that they cancel to their members. and will the senate go along and if so will the president sign it. until you get in a room and discuss the elements you get people talking at each other with some absurdity. we are talking about $85 billion a year in...
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Dec 9, 2012
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the election just matters in profound ways, look at salt lake city, the mormon church after the election said, well, maybe we're going to change our position on home sexuality is a choice you're not born that way. it reverberates all of the way through society. i can't believe that they took this up. the fact that they took it up, it believes they're going to uphold some of these. >> mary, not just the election, the trend has been pretty clear over the last dozen years. i want to show this pew poll back in 2001, 57% of the country opposed gay marriage, only 35% were for. this year the lines have crossed. 48% approaching. going above 50%. support gay marriage in the country. >> well, because americans have common sense. important constitutional, ideology call questions. people living in the real world, the greatest threat are the hetero sexuals who don't get married and create babies. that's more problematic for our culture than home sexuals getting married. in real life, looking down 30 years from now, real people understand the consequences of so many babies being born out of wedlo wedl
the election just matters in profound ways, look at salt lake city, the mormon church after the election said, well, maybe we're going to change our position on home sexuality is a choice you're not born that way. it reverberates all of the way through society. i can't believe that they took this up. the fact that they took it up, it believes they're going to uphold some of these. >> mary, not just the election, the trend has been pretty clear over the last dozen years. i want to show...
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i think the bottom line is that the president, there's wind in his sails from the election and he feels like he ought to be able to squeeze a heck of a lot out of them. and he's playing hardball. and the cost is that as you folks have noted, we definitely absolutely 100% will go into a recession if they fail. and by playing chicken like this, what the president is doing is telling people right now in december to stop their economic activity because there's this scary thing that might happen if the coin flip comes up. so i think that eat big problem right now. >> i initially read the "new york times" piece about boehner gaining some backing of the house. it's basically saying the guys that wouldn't have gone along with them before in caving are now ready to careful with them. so it's like the same article. >> i think it's 50/50 that we don't get that. i'm not exactly sure that the president doesn't think that if we question over the cliff, that he can blame that on republicans. and then try to fix it next year. but from a position of money. >> secretary geithner said they're ready to go
i think the bottom line is that the president, there's wind in his sails from the election and he feels like he ought to be able to squeeze a heck of a lot out of them. and he's playing hardball. and the cost is that as you folks have noted, we definitely absolutely 100% will go into a recession if they fail. and by playing chicken like this, what the president is doing is telling people right now in december to stop their economic activity because there's this scary thing that might happen if...
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we thought it would be weak during an election year. there's a whole body of academic evidence that public policy certainly does impair it. but we were stunned as early as the first quarter of this year to see the tech sector, ibm, talking about flat revenue growth in the u.s., and there we think there's a level of cap-ex that has just been foregone because of this public policy uncertainty that, even in a semistable environment, it should rebound a bit. and that could be a big driver for profit growth in '14. >> you point out that your sector positioning, you say it's cautious, but you are upping technology to overweight. underweighting domestic cyclical. if cap-ex is a phenomenon next year why would you not be more highly leveraged to that? >> well, we think that first of all, the numbers, and the valuations, look fully played out. we think they still have housing market euphoria. and, have looked at things like consumer confidence going up, at least until friday, as a result of house prices stabilizing. for us, that's the reason why
we thought it would be weak during an election year. there's a whole body of academic evidence that public policy certainly does impair it. but we were stunned as early as the first quarter of this year to see the tech sector, ibm, talking about flat revenue growth in the u.s., and there we think there's a level of cap-ex that has just been foregone because of this public policy uncertainty that, even in a semistable environment, it should rebound a bit. and that could be a big driver for...
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david: if, we're a month after the election. there are patterns after the election. are we fitting that pattern this year? >> yeah. the election year was up which is a sign of incumbent winning. we had a weak november after incumbent win. very typical. remains to seen if december fall follows that pattern. i think we're --. >> what about the year after an election? >> as i said before that is the worst of the four-year cycle. however a little better for democrats. they tend to spend more time debating and getting their policy initiatives together where republicans are more conservative in ideology. come out a little quicker. post-election years up five, down one for republicans since world war ii. i mean for democrats, excuse me. >> jeff hirsch, stock traders almanac, editor-in-chief. david: has commodity traders almanac. you have it all covered. >> thank you. liz: who is the most overpaid actor according to the forbes when looking at box-office returns versus the big bucks they're paid? is it brad pitt? is it eddie murphy or is it adam sandler? we have the answer co
david: if, we're a month after the election. there are patterns after the election. are we fitting that pattern this year? >> yeah. the election year was up which is a sign of incumbent winning. we had a weak november after incumbent win. very typical. remains to seen if december fall follows that pattern. i think we're --. >> what about the year after an election? >> as i said before that is the worst of the four-year cycle. however a little better for democrats. they tend to...
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>> the president himself kourg the election said 2 1/2 to one. now his proposal last week has $1.6 trillion in tax increases, $400 billion in spending cuts and another $200 billion in spending, plus an unlimited ability to borrow and raise the debt limit >> you'd be okay with 2 1/2 to 1? >> the bowles-simpson was about 3 to 1. frankly i don't think it's a revenue problem. i don't want to go over revenues. but you know, if we could get a deal that would put the country on a sound fiscal footing and change this trajectory that we're on, there perhaps could be some republican support for it. i'm not sure where i would come in. >> the -- part of the cliff that bothers you the most is that you'd like to do something with the sequester? or, if we were to sunset all the bush tax cuts? that would -- >> that would go -- republicans want to get rid of the deficit. that almost cures the deficit. and that was the rates that we had at one point. and they were supposed to sunset. and i guess there's never a good time. but what if they all sunsetted and you did
>> the president himself kourg the election said 2 1/2 to one. now his proposal last week has $1.6 trillion in tax increases, $400 billion in spending cuts and another $200 billion in spending, plus an unlimited ability to borrow and raise the debt limit >> you'd be okay with 2 1/2 to 1? >> the bowles-simpson was about 3 to 1. frankly i don't think it's a revenue problem. i don't want to go over revenues. but you know, if we could get a deal that would put the country on a...
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republican party and offers some protection for democrats for raising taxes in the next congressional election. >> absolutely. breaking the republican party would be a benefit to this plan, also, i don't think barack obama minds in the tax rates go up on the middle income people as well. >> paul: he's promised-- you're saying-- >> the ultimate win is to have all of that new revenue for the government and being able to blame it on the republicans. >> paul: wait a minute, if you're saying we go over the cliff, nothing happens in december, come january the president will not turn around and insist on andis ... >> well, things in the middle east went from bad to worse this week with reports to the syrian military is preparing temp cal weapons that could be used against its own people, it's awaiting final orders from president assad. this as protesters clash with supporters of mohammed morsi outside the presidential palace in cairo egypt. in that country's largest confrontation since the uprising of hosni mubarak. we're back with daniel henninger and editorial board member matt comiskey. so, bret.
republican party and offers some protection for democrats for raising taxes in the next congressional election. >> absolutely. breaking the republican party would be a benefit to this plan, also, i don't think barack obama minds in the tax rates go up on the middle income people as well. >> paul: he's promised-- you're saying-- >> the ultimate win is to have all of that new revenue for the government and being able to blame it on the republicans. >> paul: wait a minute,...
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and they were very instrumental in helping him get elected and re-elected. >> reporter: that's right. the election results tell the story. president obama won the union vote handily. nationwide, he won 58% of the union vote. compared to governor romney who got 40%. and unions also contributed heavily to donations and get out the vote efforts. $143 million they gave overall in the 2012 campaign to general candidates and elections in general. only 4% went to republicans. the rest went to democrats and outside spending groups. so you can see the impact they had across the board it and, wolf, while michigan wouldn't be the first state to pass right to work laws, in fact, 23 other states already have right to work laws. so tomorrow michigan could become the 24th state to have one. as the birthplace for the organized labor movement in the u.s., passage for this law in michigan would be a body blow to the labor movement in the u.s., wolf. >> certainly would be. thanks very much for that, jessica. >>> the president's due back here in washington just in a little while from michigan. his focus
and they were very instrumental in helping him get elected and re-elected. >> reporter: that's right. the election results tell the story. president obama won the union vote handily. nationwide, he won 58% of the union vote. compared to governor romney who got 40%. and unions also contributed heavily to donations and get out the vote efforts. $143 million they gave overall in the 2012 campaign to general candidates and elections in general. only 4% went to republicans. the rest went to...
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if you look back at the 2004 election, there was lots of debate about whether or not bush's re-election could be pinned on the fact that in many of these states, there were referendum on the ballot about things such as same sex marriage, that the social issues were being dredged up as sort of positive for the republicans. fast forward to this election and as we discussed on the show before, you have gay marriage, you have marijuana, you have these issues on which republicans, you know, not necessarily where the voters were this time around in many of these states that literally in just the last ten years alone, public opinion has shifted a lot. though it's important to remember that i don't think of this as as much of a partisan issue as it is generational. remember, it was just a few months ago that president obama was evolving on his position and you had dick cheney who was kind of to the left of him on gay marriage. so i don't view this as much as a partisan issue. i view this as generational and something that both parties, particularly the republican party, though, will be addressi
if you look back at the 2004 election, there was lots of debate about whether or not bush's re-election could be pinned on the fact that in many of these states, there were referendum on the ballot about things such as same sex marriage, that the social issues were being dredged up as sort of positive for the republicans. fast forward to this election and as we discussed on the show before, you have gay marriage, you have marijuana, you have these issues on which republicans, you know, not...
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ever since obama won the election, we are now in deal mode. i have to tell you, we're going to have a stellar year. it's going to be at a price. the price is going to be -- january is probably going to be much worse than predicted. february, march, et cetera. we're borrowing for the future, yet again. >> that's a really good point. is this just a short-term thing? next year in 2013, once we see cap gains taxes go much higher, which they probably will, do things slow down again? >> oh, yeah. i think it will slow down again. i think people will hunker down, particularly are the whole fiscal cliff story hanging. even if it goes over, which i predict it will -- >> so do i. >> diana, what are you seeing? >> in the high ends where dolly works, of course it's going to have a big effect. let's keep this in perspective when we look at the housing recovery. homes price ed over $1 million were just 1.7% of sales in october. this is a minuscule amount when you look at the overall housing market and the recovery. that's why we're not seeing prices come dow
ever since obama won the election, we are now in deal mode. i have to tell you, we're going to have a stellar year. it's going to be at a price. the price is going to be -- january is probably going to be much worse than predicted. february, march, et cetera. we're borrowing for the future, yet again. >> that's a really good point. is this just a short-term thing? next year in 2013, once we see cap gains taxes go much higher, which they probably will, do things slow down again? >>...
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. >> i was so hopeful, i wasn't obviously thrilled with the election results, but i actually thought that result might be the result we needed to get thefshs done. >> in a way you you have the situation where -- >> you extend 98 but not the 2? believing that story is so -- >> either raise them on everyone or raise them on -- either it will hurt the economy if you raise taxes or it's not. on 98 it won't hurt, on 2 it will -- >> we'll have more on this argument. in the meantime, let's talk about some of the other headlines. financial firms are gathering for the goldman sachs financial services contractors. a key presenter is brian money tha moynihan. we talked about his reports of planned fee increases. plus there was the issue of president obama's likely pick to follow tim geithner at treasury. we talked about how buffett threw out jamie dimon's name. here is what moynihan thinks about that idea. >> i won't give individual names, but i think what warren is expressing a view which i agree with is that we need to have very bright, very talented and very broad experienced people help pus
. >> i was so hopeful, i wasn't obviously thrilled with the election results, but i actually thought that result might be the result we needed to get thefshs done. >> in a way you you have the situation where -- >> you extend 98 but not the 2? believing that story is so -- >> either raise them on everyone or raise them on -- either it will hurt the economy if you raise taxes or it's not. on 98 it won't hurt, on 2 it will -- >> we'll have more on this argument. in...
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Dec 10, 2012
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after the election, the risk that the market basically these two portfolios are traching each other are perfect mirror images here. they were betting at this point we were going to go over the cliff. in other words the -- over the cliff portfolio was the outperformer until today. they have crossed. so now it's gone lower. we hit the cliff and avoid it is going higher at this point. two things to watch for this week. we got all that treasury paper coming to market here. the yield has moved higher. but we'll see what happens there. then the other thing is natural gas at a two-month low and moving lower because of all the warm weather in the markets now. nat gas subpoena in fact we come off this low here. with the market up 20 points here, what do you make of this -- of our model portfolio fiscal cliff portfolios? >> i was very surprised that it crossed today. i mean, with very little activity, very little movement on pretty much any stock that it crossed today. i was surprised with that. i'm becoming a little more convinced that we're not going to have any resolution at all. i thought the
after the election, the risk that the market basically these two portfolios are traching each other are perfect mirror images here. they were betting at this point we were going to go over the cliff. in other words the -- over the cliff portfolio was the outperformer until today. they have crossed. so now it's gone lower. we hit the cliff and avoid it is going higher at this point. two things to watch for this week. we got all that treasury paper coming to market here. the yield has moved...
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that suggests that speaker boehner is actually in a stronger position in his caucus than when he was elected two years ago. how is he doing, do you think? >> well, i think he's in a stronger position because republicans feel like they're in a weaker position. i think a lot of republicans who might prefer a different leader don't feel they have the luxury of that right now. in fact, even congressman kantor and others, who boehner didn't think he could count on the last time around, are being supportive. republicans are trying to calculate how much they have to give in now and is there a way to fall back with the idea of being able to move ahead in a more aggressive way next year. that's why you saw the president in a very preemptive way trying to rule out the idea of tying talks to next february to raising the debt ceiling. >> alan simpson, the co-chair of the president's deficit commission, was on the "today" show this morning and he said all this talk about either side being able to go off the cliff is ridiculous. let me play that for you. >> when you have leaders of parties and people from
that suggests that speaker boehner is actually in a stronger position in his caucus than when he was elected two years ago. how is he doing, do you think? >> well, i think he's in a stronger position because republicans feel like they're in a weaker position. i think a lot of republicans who might prefer a different leader don't feel they have the luxury of that right now. in fact, even congressman kantor and others, who boehner didn't think he could count on the last time around, are...
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the big thing is the election. but the jobs numbers suggest that the economy is doing well and it cuts against the republican argument that raising taxes on the rich with would hurt the economy and the economy is fragile. the numbers though that the economy is not fragile and that would improve the economy's leverage. he's still doing so many public events. he is trying to use that public pressure to sort of force the republicans to cut a deal. >> doing this public stuff but at the same time having these private talks with the speaker and david axelrod talked about what the president and speaker might be doing behind closed doors and the reasoning behind it. let's listen. >> both the president and the speaker are very fluent in the basic numbers. they have been living with them for some time now. so as i said, i don't think that there's a lot of mystery about this. the politics has to be traverse. they've got to get through the rocky shoals of grover norquist. >> does that make it easier to keep politics out of it?
the big thing is the election. but the jobs numbers suggest that the economy is doing well and it cuts against the republican argument that raising taxes on the rich with would hurt the economy and the economy is fragile. the numbers though that the economy is not fragile and that would improve the economy's leverage. he's still doing so many public events. he is trying to use that public pressure to sort of force the republicans to cut a deal. >> doing this public stuff but at the same...
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that doesn't sit well with mexicans who accuse it of buying the election. hundreds clashed with police outside congress. >>> north korea is going to try again. they want to take another stab at sending a rocket into space. this time, to place a satellite into orbit. this is all coming from north korea state run media. the rocket will be similar to this one. the planned launch, the window is between december 10th and 22nd. u.s. state department is not happy about it, calling any launch by the north koreans provocative. >>> take a look at live pictures from the white house, which is marking world aids day. a day to ponder the fight against hiv and aids. nations around the globe observe the day in their own way. sydney's famous opera house, lit up in red, the color of aids awareness. other countries held rallies. as of last year, an estimated 34 million people were living with hiv. >>> an awful bus crash today on airport property in miami to tell you about. two people died when a tour bus smashed into an overpass. too low for the bus to clear. police and firef
that doesn't sit well with mexicans who accuse it of buying the election. hundreds clashed with police outside congress. >>> north korea is going to try again. they want to take another stab at sending a rocket into space. this time, to place a satellite into orbit. this is all coming from north korea state run media. the rocket will be similar to this one. the planned launch, the window is between december 10th and 22nd. u.s. state department is not happy about it, calling any launch...
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the president of the united states is back to his old dog and pony show for three weeks after the election he didn't say or do anything. he's back to giving public speeches. with a plan that he knew was going to be rejected by republicans, we actually need the president of the united states to sit down with speaker boehner and have a kfrg. i can't understand this president. he likes to legislate and give speeches but he doesn't like to get involved actively in the legislative pros is he and that's exactly what we need and we haven't heard increase in revenue. we haven't heard what the white house is willing to give up and i think the plan is reductions in spending and what is increasing deficit is not that the rich is not paying enough taxes. >> what is going to come from the left? because david brooks from the "new york times" made this observation. republicans have to realize that they are going to cave on tax rates. the only question is, what do they get in return? as we know, tax rates are a must-have for the president, the revenue there as alfonso was pointing out, revenueses are on t
the president of the united states is back to his old dog and pony show for three weeks after the election he didn't say or do anything. he's back to giving public speeches. with a plan that he knew was going to be rejected by republicans, we actually need the president of the united states to sit down with speaker boehner and have a kfrg. i can't understand this president. he likes to legislate and give speeches but he doesn't like to get involved actively in the legislative pros is he and...
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there is no question about the legitimacy of his election. but he definitely does not have half of the population behind him. >> he certainly doesn't have a mandate is what you are saying. lauren thank you for reporting for fox news latino . thank you, we appreciate it. for much more on mexico's new president and issues south of the border that affect our nation go to fox latino.com. parts of the west coast are bracing in the middle of a multiday soaking courtesy of a strange weather patsern. the radar shows it here and it is it a long system. rain falling over northern california for the most part, forecasters say some areas could get soaked for day to come and dozens of inches falling. wow . it is it because of what they call an atmospheric river of jet stream ofure in the pacific office carrying wave after wave of storms on the west coast. donna is live in cloudy california. dominic? >> the latest in the freaky stream of rains should dump twice as much as the last storm that came through here if not the two combined. it will start in the e
there is no question about the legitimacy of his election. but he definitely does not have half of the population behind him. >> he certainly doesn't have a mandate is what you are saying. lauren thank you for reporting for fox news latino . thank you, we appreciate it. for much more on mexico's new president and issues south of the border that affect our nation go to fox latino.com. parts of the west coast are bracing in the middle of a multiday soaking courtesy of a strange weather...
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obama won the election because obama promised american voters gifts and free things. he got a lost flak from democrats and republicans. look, this is exactly what mitt romney was talking about. here is someone saying, wait, i voted for you, obama, now give me the free stuff. this is exactly what mitt romney was talking about. >>eric: president obama ran the last campaign on things are getting better. give me for more years we are almost there. a very good indication of things are really getting better in the economy is food stamp use. food stamps are up to a record level. november showed 46 million people on food stamps. if things are getting better, how does that keep going up? >>guest: exactly. if you remember back during the campaign, obama was going around bragging saying, i saved detroit with the bailout. really? you saved detroit? is that why detroit is coming begging right now for money? it is insane. he is completely out of touch and he doesn't realize what this economy is like right now for every day folks. >>eric: thank you, michelle. >> there is supposed to
obama won the election because obama promised american voters gifts and free things. he got a lost flak from democrats and republicans. look, this is exactly what mitt romney was talking about. here is someone saying, wait, i voted for you, obama, now give me the free stuff. this is exactly what mitt romney was talking about. >>eric: president obama ran the last campaign on things are getting better. give me for more years we are almost there. a very good indication of things are really...
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. >> it is by the end of this week and here is why, the republicans came out right after the election and said to the president, you want revenue here. you want revenue on the wealthy, we'll give it to you, limiting tax deductions for the wealthy. the president instead of taking that and running with tceiling a deal has been campaigning for tax hikes and to cap it off sent treasury secretary tim geithner to congress with this outrageous proposal as basically a compilation of everything that the president wanted in his budget and beyond what he even campaigned for. as a result i think most republicans wonder how serious he is about doing this. they feel things are going backward. >> paul: yeah, that, that's the way it sounds to me, too, i talked to some senior republicans this week and they're increasingly of the belief that maybe the president wants to back them into a corner, that could push them over the cliff and then be able to blame them if you have a recession or for taxes going up on everybody. >> well, i don't doubt that's what he's trying to do. it's hard to see where the ups
. >> it is by the end of this week and here is why, the republicans came out right after the election and said to the president, you want revenue here. you want revenue on the wealthy, we'll give it to you, limiting tax deductions for the wealthy. the president instead of taking that and running with tceiling a deal has been campaigning for tax hikes and to cap it off sent treasury secretary tim geithner to congress with this outrageous proposal as basically a compilation of everything...
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there was an election on these issues. there was an election on rates. the president was clear on raising the rate and he won. democrats expanded in the senate. it's not like this is a new debate. >> we talk about how the business community was at odds with the campaign. in terms of preventing a debt ceiling showdown, it may be his ally. >> a former health care adviser to the romney campaign, david k. johnston and joan walsh thanks for joining us. >> understanding the tragedy might be impossible. why dry? after this. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. sxz fi
there was an election on these issues. there was an election on rates. the president was clear on raising the rate and he won. democrats expanded in the senate. it's not like this is a new debate. >> we talk about how the business community was at odds with the campaign. in terms of preventing a debt ceiling showdown, it may be his ally. >> a former health care adviser to the romney campaign, david k. johnston and joan walsh thanks for joining us. >> understanding the tragedy...
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also remember the exit polling from the elections that shows people are fine with taxes going up on the top 2%. this is part of why the deal from john boehner was a non starter. he said how about deduction caps so you have lots of taxes. is he in trouble with his right wing? >> yes, he is. they have purged the scam. you said it. spending cuts. they are talking about $350 billion. what matters here is the numbers. we can't afford this. we have $16 trillion in debt. we have $87 trillion in unfunded highbilities those are promises that are made that we have to keep. >> guys, this is part of what is interesting about this conversation. when you hear the speaker talking about the loop holes that is the same rhetoric that we heard from mit romney. >> they are using the stuff that is done in the budget control last year. >> those are terrible talking points. >> let me say this point. >> hang on a second. i want to go to guy benson on another point. there is a lot of talk that the republicans might have a doom's day scenario. if there is a budget stalemate, then the republicans will allow a vot
also remember the exit polling from the elections that shows people are fine with taxes going up on the top 2%. this is part of why the deal from john boehner was a non starter. he said how about deduction caps so you have lots of taxes. is he in trouble with his right wing? >> yes, he is. they have purged the scam. you said it. spending cuts. they are talking about $350 billion. what matters here is the numbers. we can't afford this. we have $16 trillion in debt. we have $87 trillion in...
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for instance, right after the election we advised our clients we should get a good-sized down move. we got 'em short at 1430 in the december s&p, futures caught the move all the way down at 1350 and then turned around and said, look, we should rally back to the 1400 area. that's exactly what happened. we didn't chase headlines, we didn't try to catch every wiggle in the market, and for the people watching, the important thing to keep in mind now is we're getting close to the end of the year. the markets are going to get increasingly thin and illiquid. pile on the headline risk not only coming out of europe, but also with the fiscal cliff negotiations. the bottom line is it's going to be very difficult to maneuver in tight spaces, so widen it out. for us that means in the s&p we want to pie 1340 to 1320, and as the market gets up to the 1430 area and above, we want to reduce our equity exposure. in the dow call it 12,5 to 13,5. in the nasdaq 100, 2400 to 2800. liz: okay, hold on. let me just hold on the s&p because that's what we have here. 1320 to 1340 buy in when it hits there, and
for instance, right after the election we advised our clients we should get a good-sized down move. we got 'em short at 1430 in the december s&p, futures caught the move all the way down at 1350 and then turned around and said, look, we should rally back to the 1400 area. that's exactly what happened. we didn't chase headlines, we didn't try to catch every wiggle in the market, and for the people watching, the important thing to keep in mind now is we're getting close to the end of the...
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. >> at this moment when we're all tired from the election, you can see a break in the action. that adds to the momentousness of the evening. >> reporter: david letterman joked on his show that kennedy center honorees also receive an adjustable mattress and a new car. it was just a punch line, but they do get something else, a chance to nominate potential future honorees. randi. >> emily, thank you very much. >>> well, it's almost here. our live broadcast of cnn heros. it's our annual salute to those who make life better for those in need. here's gloria estefan. take a look. >> i love cnn heroes because people are used to seeing celebs on tv, politicians on tv. the people we should celebrate are the people out there doing things that help other human beings. >> tonight you're going to meet real super men and super women from across the globe. >> so shining the light on these heroes that do amazing things helps all of us say, i can do it too. st. jude, it's really an amazing place. the incredible research they do, they make it a soothing place for both the family and the child.
. >> at this moment when we're all tired from the election, you can see a break in the action. that adds to the momentousness of the evening. >> reporter: david letterman joked on his show that kennedy center honorees also receive an adjustable mattress and a new car. it was just a punch line, but they do get something else, a chance to nominate potential future honorees. randi. >> emily, thank you very much. >>> well, it's almost here. our live broadcast of cnn...
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both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time around. don't you think? >> they sound very tough now. chrystia freeland of thomson, and author of "the plutocrats." >>> i promised you, red lobster, olive garden, timely for both, and i will deliver. that is ahead. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use alka-seltzer plus night cold & flu... [ coughs ] [ buzz! ] [ screams ] ...and you could find yourself... honey? ...on the couch. nyquil d. 50% longer cough and stuffy nose relief. yep. the longer you stay with us, the more you save. and when you switch from another company to us, we even rew
both by the experience with the debt ceiling and with the election. i think if they want to stand their ground, i think they can actually do it. i think that that is, in fact, possible. can they? you know, we'll see. they seem a lot tougher now than they were last time around. don't you think? >> they sound very tough now. chrystia freeland of thomson, and author of "the plutocrats." >>> i promised you, red lobster, olive garden, timely for both, and i will deliver....
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>> that's right and i also feel that president obama was re-elected for a reason. an most of the people in this country go along with his idea that the wealthy need to pay their fair share. i think that it would be totally irresponsible on his part and the republicans if they don't come to a decision on this before the first of the year, and get something ironed out -- >> so, richard, what do you think? should we go off the cliff? should we just see where the chips fall? >> no, i do not agree with going off the cliff. we should come to something, some type of an agreement here. but the wealthy should pay their fair share. i do believe in that. >> mayor hall, your town relies on federal funds to keep your water drinkable at the local treatment plant. so how would going off the cliff affect your city budget? >> well, you know, any time that you're dealing with funds that the tax payers money is involve in, you've got to look at the checks and balances and if they cut spending, there is a possibility that that will be cut and our resources will go down the drain liter
>> that's right and i also feel that president obama was re-elected for a reason. an most of the people in this country go along with his idea that the wealthy need to pay their fair share. i think that it would be totally irresponsible on his part and the republicans if they don't come to a decision on this before the first of the year, and get something ironed out -- >> so, richard, what do you think? should we go off the cliff? should we just see where the chips fall? >>...
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doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i think is a bad idea, that's 30 to $35 billion a year. i heard many democrats say that's a small amount, why shouldn't we do that? that's about halfway to the total amount they're talking about taxes. but whent's that, it's small. but when it's the 70 to $80 billion am toortized over ten years, all of a sudden it's big. i'm not saying don't raise taxes. if i signed the pledge, i would do it for good reasons. i haven't seen a good reason. i haven't seen a plan that promotes the big guy in the room. >> see you in the next hou
doing precisely that. >> got through the election on social issues. on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the...
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we talked about the presidential election. what caught my fancy is congressman ryan and senator rubio will be at the jack camp center as guests. i believe rubio or ryan is receiving an award. just 2016 came to mind fp fp you're looking at which ever one catches your fancy, the democratic landscape or the republican landscape for 2016, these are pretty prominent names. >> i think they're both top contenders on the republican side. paul ryan is the defacto leader. he's supposed to be very influential though he's hiding from the press which is interesting. we know that marco rubio is running. will ryan support it. will he gets blamed if he does by the purist in the party. will marco rubio turn immigration around which is very risky with the base. >> it's interesting where the republicans have now suffered a loss. clearly mitt romney is not going to be be party leader. they don't actually have one and you watch the wilderness fight for a while. >> candy, i hate to say this because i know we all want to play along with 2016. i thin
we talked about the presidential election. what caught my fancy is congressman ryan and senator rubio will be at the jack camp center as guests. i believe rubio or ryan is receiving an award. just 2016 came to mind fp fp you're looking at which ever one catches your fancy, the democratic landscape or the republican landscape for 2016, these are pretty prominent names. >> i think they're both top contenders on the republican side. paul ryan is the defacto leader. he's supposed to be very...
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we've had an election and the clearest debate and the clearest difference in that election was over the question of whether the rich should pay more and tax rates should go up on the rich. everybody who paid any attention at all knows that the top 2% are now taking home a larger share of total income and wealth in this country than they have in over 80 years and are paying the lowest effective tax rate they paid in over a half a century. we also have a looming budget deficit. so you don't have to really be a rocket scientist to understand that the rich do have to pay more. taxes do have to be raised on the rich and i think that's why over 60% of the public in these polls are not only supportive of a tax increase on the rich, but also will blame the republicans if we go over the fiscal cliff. and this gives frankly, this gives the white house and this gives the obama administration much more bargaining leverage. >> grover norquist, here's the problem, it seems to me. again, as long as the posturing goes on with fairly ridiculous offers on both sides and lots of political rhetoric along t
we've had an election and the clearest debate and the clearest difference in that election was over the question of whether the rich should pay more and tax rates should go up on the rich. everybody who paid any attention at all knows that the top 2% are now taking home a larger share of total income and wealth in this country than they have in over 80 years and are paying the lowest effective tax rate they paid in over a half a century. we also have a looming budget deficit. so you don't have...
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dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from ou. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiing massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the bostn globe reporting the 72-year-old democratic congressman who is set to retire in january hired the big shot hollywood agency william morris to represent him in the next phase of his career. william morris is run by r.e.m. manuel, the brother of chicago mayor and the inspiration for the character ari goldman he
dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from ou. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiing massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the bostn globe reporting the 72-year-old democratic congressman who is set to retire in january hired the big shot hollywood agency william morris to represent him in...
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two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the senate. i'm going to guarantee you that the democrats in the senate are going to be split on this business of who's rich and what the right tax rates are going to be. >> i have to leave it there, chaps. nick, larry, thank you both much, indeed. >>> coming up next, kerry kennedy joins me about fame, politics and most important of all, taylor swift.ta alka-seltzs cold & cough... [ buzz! ] take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use tylenol cold multisymptom nighttime... [ coughs ] [ buzz! ] [ screams ] ...and you could find yourself... ho
two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the...
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we won the election. poll after poll tells us. the american people understand that the wealthiest people are doing phenomenally well. their tax rates are low. the middle class is disappearing and they are in a lot of trouble. the wealthy and large corporations must be asked to play a significant role in deficit reduction. we must not not social security. that's clearly what the american people believe. and the president, democrats have got to hold firm and when they do, it will finally be the republicans that come to the table rather than just the democrats coming in as has been the case in the past. >>> bernie sanders, appreciate your time. >>> coming up, the fight over the fiscal cliff is putting american jobs at risk. one of these congressional members is lying about the problem. we'll use the newest job numbers to get to the truth next. >>> and republicans in michigan are ramming through antiunion legislation and hurting middle class americans in the process. the people of michigan are outraged. we're talking to lansing, michi
we won the election. poll after poll tells us. the american people understand that the wealthiest people are doing phenomenally well. their tax rates are low. the middle class is disappearing and they are in a lot of trouble. the wealthy and large corporations must be asked to play a significant role in deficit reduction. we must not not social security. that's clearly what the american people believe. and the president, democrats have got to hold firm and when they do, it will finally be the...